Grifols’ Q2 2026 earnings call drew CEO Nacho Abia, CFO Rahul Srinivasan, Biopharma President Roland Wandeler, and IR head Daniel Segarra.
H1 revenue reached EUR 3.57 billion; adjusted EBITDA was EUR 854 million; free cash flow pre-M&A was EUR 91 million; and net leverage was just under 4.2x.
The board started evaluating a potential IPO of the U.S. Biopharma business; management gave no timing, citing process constraints.
Immunoglobulins grew 12.8% at constant currency in H1; management expects mid-to-high single-digit IG growth in core U.S./Europe markets in H2.
Egypt plasma benefits are starting to show in 2026, with the fuller impact expected in 2027; 29 U.S. donor-center closures are expected to aid results in late 2026 and early 2027.
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